Jan. 4 (Bloomberg) -- Indian Oil Corp. may partner Reliance Industries Ltd. to bid for 57 oil and gas areas in the nation's seventh round of auction, the Financial Express said, citing people it didn't identify.

India in December invited bids for 57 areas compared with 55 in an earlier round. Indian officials will promote the auction to investors at an event in Mumbai on Jan. 8 followed by similar presentations in London, Houston and Calgary. The government may award the exploration areas by June.

Indian Oil is the nation's biggest refiner and Reliance is the country's biggest private company.

To contact the reporter on this story: Pratik Parija in New Delhi at pparija@bloomberg.net

Last Updated: January 3, 2008 23:05 EST